Cebu Landmasters sees brisk take-up for Davao condo
DAVAO CITY — The P1billion MesaTierra Garden Residences project of Cebu Landmasters, Inc. and Davaobased Yuson Commercial Investments, Inc. is now 80% sold, just a month into its preselling activities, according to company officials.
“We are still at the preselling stage but our first condominium venture is already 80% sold,” Yuson Commercial President and Chief Executive Officer Frederick H. Yuson said in an interview during the project launch on Monday.
MesaTierra is the 4th of Cebu Landmasters’ “Garden Series” condominiums, with two completed and sold out in Cebu City, and another under construction and almost sold out in Cagayan de Oro City.
The two companies signed the partnership in September last year for the 22-story, 694unit condominium that will be located along Jacinto Extension, across the Bangko Sentral ng Pilipinas compound.
“The response is so overwhelming due to the project’s prime location. It is also priced just right,” Jose Franco B. Soberano, senior vice president and chief operating officer of Cebu Landmasters, said.
“The studio units are very affordable at an equity of P6,000 to P8,000 per month for 36 months,” he added.
Cebu Landmasters President and Chief Executive Officer Jose R. Soberano III, for his part, said real estate demand has been robust in the home city of President Rodrigo R. Duterte given the increased interest from private investors as well as the government’s planned infrastructure projects.
Cebu Landmasters and Yuson Commercial are also eyeing two other real estate developments: the Riverside mixed- use project along McArthur Highway, and the Times Beach project in Matina.
The Riverside project will include a 22-story building for business process outsourcing offices, residential units, and serviced apartments, as well as a commercial building for retail shops.
The Times Beach project, on the other hand, will cover a four- hectare area that will house a 3,000- seat event center. —